management science

b) If the probabilities of each economic condition are 0.5, 0.1, 0.35, and 0.05, respectively, what investment would be made using the Expected Value criterion? State of Nature Alternative 1 2 3 A 50 75 20 30 B 80 15 40 50 C 100 300 -50 10 D 25 25 25 25 Calculate the Expected Value of perfect information using: i. The expected payoff under certainty approach ii. The Expected Regret approach (EOL)